Charges, Sandy Hit Delta's Profit

By

Susan Carey And

Melodie Warner

Updated Jan. 22, 2013 12:58 p.m. ET

Delta Air Lines Inc., which reported a sharp drop in fourth-quarter earnings on Tuesday, said it expects to deliver better operating results during 2013 and hew to its target of a 10% to 12% annual return on invested capital.

Delta, which last month announced plans to acquire 49% of Virgin Atlantic Airways Ltd. For $360 million, is well on the way to applying for the various antitrust approvals it will need, said Ben Hirst, the company's general counsel. Delta has asked the U.S. Department of Justice and the relevant...